LatinNews Daily - 08 August 2022

In brief: Experts sharply raise inflation forecast in Argentina

*Experts consulted by Argentina’s central bank (BCRA) have forecast that inflation in Argentina will close 2022 at 90.2%, up 14.2 percentage points on their forecast the previous month. The experts also expect that inflation will close 2023 at 76.6%, up 12.0 percentage points on the previous month’s forecast and at 60.0% in 2024, up 9.8 percentage points on the previous forecast. Inflation was running at 64% in annual terms in June. Argentina’s inflation has been exacerbated by the impact of the Ukraine war (as is the case elsewhere) while the country is still battling a foreign currency crisis. The 39 economists also moderately raised their projections for Argentina’s GDP growth in 2022 to 3.4%, up 0.2 percentage points from their projection last month.

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